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P23-2 (LO2,4) SCF-Indirect Method The comparative balance sheets for Hinckley Corporation show the following information. \begin{tabular}{l|l|r|r|r|} \hline Long-term notes payable & 31,000 & 25,000 \\ \hline & Common stock & 43,000 & 33,000 & \\ \hline & Retained earnings & 20,750 & 6,000 \\ \hline \end{tabular} instructions: Prepare a statement of cash flows using the indirect method. Flood damage is unusual and infrequent in that part of the country. Supplemental disclosures of cash flow information: Noncash investing and financing activities Calculation of net income: Calculation of loss on sale: Calculation of depreciation expense: Calculation of equipment purchased for cash